Hsbc Holdings PLC Purchases New Holdings in Iovance Biotherapeutics, Inc. $IOVA

Hsbc Holdings PLC acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, Holdings Channel reports. The firm acquired 68,190 shares of the biotechnology company’s stock, valued at approximately $292,000.

Other institutional investors also recently made changes to their positions in the company. Xponance LLC grew its position in shares of Iovance Biotherapeutics by 19.4% during the fourth quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock worth $66,000 after buying an additional 3,950 shares in the last quarter. Raymond James Financial Inc. grew its stake in Iovance Biotherapeutics by 1.4% in the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 4,618 shares in the last quarter. Orion Investment Co increased its holdings in Iovance Biotherapeutics by 0.3% in the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after buying an additional 5,150 shares during the last quarter. Captrust Financial Advisors increased its holdings in Iovance Biotherapeutics by 13.5% in the fourth quarter. Captrust Financial Advisors now owns 46,812 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 5,563 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its stake in Iovance Biotherapeutics by 27.9% during the fourth quarter. Flputnam Investment Management Co. now owns 25,950 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 5,661 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on IOVA shares. Barclays lifted their target price on Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citigroup reissued an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. UBS Group raised their price target on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $6.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Hold” and an average target price of $8.89.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $8.79 on Friday. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $9.36. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -12.04 and a beta of 0.83. The stock’s fifty day moving average is $5.90 and its two-hundred day moving average is $4.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. The company’s quarterly revenue was up 65.7% on a year-over-year basis. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.